The jackpot for the Powerball draw on Wed Aug 13, 2025, is projected to be $526 Million, with an option for a cash payout of $241 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Wed Aug 13, 2025 |
|---|
| Draw Date | Wed Aug 13, 2025 | | Projected Jackpot | $526,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(8.82%) | $21,256,200 | | Net Lumpsum Payment | $130,613,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,916,826 |
$2,889,556
$698,264 |
$4,329,006 |
| 2 |
$8,312,904 |
$3,036,105
$733,198 |
$4,543,601 |
| 3 |
$8,728,444 |
$3,189,855
$769,849 |
$4,768,740 |
| 4 |
$9,165,024 |
$3,351,389
$808,355 |
$5,005,280 |
| 5 |
$9,623,170 |
$3,520,903
$848,764 |
$5,253,503 |
| 6 |
$10,104,460 |
$3,698,981
$891,213 |
$5,514,266 |
| 7 |
$10,609,420 |
$3,885,816
$935,751 |
$5,787,853 |
| 8 |
$11,140,154 |
$4,082,187
$982,562 |
$6,075,405 |
| 9 |
$11,697,188 |
$4,288,290
$1,031,692 |
$6,377,206 |
| 10 |
$12,282,100 |
$4,504,707
$1,083,281 |
$6,694,112 |
| 11 |
$12,895,942 |
$4,731,829
$1,137,422 |
$7,026,691 |
| 12 |
$13,540,818 |
$4,970,433
$1,194,300 |
$7,376,085 |
| 13 |
$14,217,780 |
$5,220,909
$1,254,008 |
$7,742,863 |
| 14 |
$14,928,932 |
$5,484,035
$1,316,732 |
$8,128,165 |
| 15 |
$15,675,326 |
$5,760,201
$1,382,564 |
$8,532,561 |
| 16 |
$16,459,066 |
$6,050,185
$1,451,690 |
$8,957,191 |
| 17 |
$17,281,730 |
$6,354,570
$1,524,249 |
$9,402,911 |
| 18 |
$18,145,948 |
$6,674,331
$1,600,473 |
$9,871,144 |
| 19 |
$19,053,298 |
$7,010,051
$1,680,501 |
$10,362,746 |
| 20 |
$20,005,884 |
$7,362,507
$1,764,519 |
$10,878,858 |
| 21 |
$21,006,336 |
$7,732,675
$1,852,759 |
$11,420,902 |
| 22 |
$22,056,758 |
$8,121,331
$1,945,406 |
$11,990,021 |
| 23 |
$23,159,254 |
$8,529,254
$2,042,646 |
$12,587,354 |
| 24 |
$24,317,506 |
$8,957,808
$2,144,804 |
$13,214,894 |
| 25 |
$25,533,092 |
$9,407,574
$2,252,019 |
$13,873,499 |
| 26 |
$26,810,220 |
$9,880,112
$2,364,661 |
$14,565,447 |
| 27 |
$28,150,468 |
$10,376,004
$2,482,871 |
$15,291,593 |
| 28 |
$29,558,044 |
$10,896,807
$2,607,019 |
$16,054,218 |
| 29 |
$31,036,104 |
$11,443,689
$2,737,384 |
$16,855,031 |
| 30 |
$32,587,804 |
$12,017,818
$2,874,244 |
$17,695,742 |
|
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